Florida Statutes Part XXI - Mortgage Insurance Consolidations (Ss. 627.981-627.987)

• 627.981 - Scope Of Part.
  This part applies to all mortgage insurance offered, issued, or delivered in this state, by mail or otherwise, in connection with consolidations.History.—ss. 1, 2, ch....
• 627.982 - Definitions.
  As used in this part:(1) “Consolidation” means any transaction in which a financial institution or servicer makes its premium collection services available to its mortgage debtors...
• 627.983 - General Requirements.
  No insurer shall participate in any consolidation unless it complies with the following requirements:(1) The offer of new coverage shall be made on a timely basis...
• 627.984 - Group-to-group Consolidations.
  Where both the old coverage and the new coverage are provided under group policies:(1) A signed application need not be obtained if all of the following...
• 627.985 - Disclosure Requirements.
  (1) In conjunction with any offer of new coverage made in any consolidation, the new insurer shall disclose in writing to each prospective insured all of...
• 627.986 - Replacement Rules.
  Group-to-group consolidations shall be exempt from any rule of the commission relating to the replacement of existing life or health insurance. Nothing in this part...
• 627.987 - Policy Forms.
  No policy or group certificate of mortgage insurance used in connection with any consolidation, and no application, endorsement, or rider which becomes a part of...

Last modified: September 23, 2016